Dynamic insights are a dominant trend in 2020, and likely beyond as the world is shifting to a greater dependence on the internet for connection. So what are dynamic insights? They are basically information or data collected about customers’ habits and preferences can be the key to real-time solutions, assistance and better service. Such insights will be crucial to staying in business as clients expect more personalization, high-level customer service, and ease with each calendar year.
So what is all this data? Data is taken from various sources such as websites and apps, purchasing histories at the grocery store and so on. All this data is stored and exists in fragments and pieces, but it can be culled together, or parsed apart as needed. With the help of machines, patterns can be found which give insights. Usable patterns or insights indicate a trend in human behavior that then can be examined, and responded to by brands and companies. The ability to respond to data will help businesses engage users/clients by offering them content or products they want, predict behavior so companies can be ready to meet needs before they arise, and offer overall better, more personalized goods and services.
Let’s examine a few examples of how companies have used data to provide better services to clients.
Delta Airlines took customers’ concerns over lost baggage seriously. They invested $50 million to roll out a solution, based on data that would tell passengers where their bags are at all times during a journey at 344 airports worldwide. Customers can download the “track my bag” app from Delta, take a picture of their bags and then track their luggage as it moves towards the client’s destination. According to Delta’s website Radio Frequency Identification (RFID) bag tags are added to all checked luggage. Bags are read by RFID scanners at various points along the journey and customers receive notifications to their phones on the whereabouts of their baggage. Bags are being tracked at a 99.9% success rate. Delta predicts using data to exceed customer expectations and eliminate the unnerving lost bag scenario will pay off with greater ticket sales.
Pepsi Co is a giant company that is using big data to make sure stores are never out of Pepsi products before a scheduled delivery. The data includes Pepsi’s warehouse inventory and each individual store’s inventory of Pepsi Co products. These 2 data points are used to forecast production and shipping times. This helps Pepsi ensure that each of its retailers has the right products, quantities and timing of goods to meet its customers’ needs. The Company broadcast an engaging webinar with Pepsi Co’s Customer Supply Chain Analyst and how they’re using data to provide better service to retailers.
Perhaps nowhere are dynamic insights more important than in the healthcare sector. In a paper titled: Big Data and Analytics for Infectious Disease Research, Operations, and Policy: Proceedings of a Workshop (2016) from The National Academies of Science, Engineering and Medicine it was predicted that the growing amount of big data will be able to provide a general picture of the overall health of a populous. This would allow health care services to predict and discover problems early-on, and prepare solutions in advance. Such preparations could prevent something that starts small from growing into a large scale disaster. Data could provide a user (or patient) experience that recommends specific, personalized treatments to individuals. Big data could help predict how a patient will respond to a given treatment. Or even prepare for global health risks such as a pandemic.
Using dynamic insights from data to create better customer experiences is a form of digital excellence. This is a trait that customers will be looking for more and more. Companies that do invest in data and use that information to provide better services to their clients are excelling across industries.
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